Bottled drinks firm Safi and fuel retailer Wataniya will start receiving offers from strategic investors this month, the Madbouly cabinet said in a statement yesterday.
Major local-international consortiums have voiced interest in the companies, he said, without providing further details.
The Sovereign Fund of Egypt is reportedly looking to sell at least 10% — and potentially up to 100% — of the two firms to strategic investors.
CI Capital has been promoting the companies for almost two months, the investment bank reportedly kicked off a roadshow in mid-March. Little is known about who it has been in talks with or the level of appetite.
Moreover, the state is currently finalizing a number of agreements with unnamed buyers, Prime Minister Moustafa Madbouly said, without providing details. The PM reiterated the government’s commitment to the privatization agenda, and said that details of these transactions will be announced soon.
